Capital fuels the insurance industry. It constitutes the reserves, pays the claims and provides the investment funds necessary to make a profit (excepting an aberration like 2001). However, the total amount of capital invested at anytime constantly changes—sometimes there’s too …
The Independent Insurance Agents of Texas’ annual convention will be held June 13-14 at the Westin Galleria Hotel in Houston. IIAT promises a jam-packed two days of continuing education workshops, one-on-one consultation sessions, a huge trade show and the ever-popular …
Illinois-based INSTEC unveiled the industry’s first complete, native Windows commercial package policy processing solution earlier this week at the 2002 ACORD Conference “Real World Solutions,” in Orlando, Fla. The QuickSolver Commercial Package Policy (CPP) software is a countrywide rating and …
Twelve persons have been arrested in a sting operation in Queens, charged with falsely reporting that their vehicles had been stolen and collecting the insurance proceeds, totaling around half a million dollars. The undercover investigation known as Operation Fraud Fools …
Recent moves have confirmed the reality of the expanding Chinese insurance market. They include an agreement between U.S. and Chinese regulators to share information; an announcement that AIG has been granted a first ever insurance license for China’s capital, Beijing, …
California-based Arrowhead Financial Group has acquired Sawyer, Cook & Co., one of the largest insurance agencies in the Inland Empire with a history stretching back nearly 80 years. The acquisition of the Redlands-based firm boosts Arrowhead Financial Group’s insurance revenues …
Michigan Office of Financial and Insurance Services (OFIS) Commissioner Frank M. Fitzgerald announced his office will hold public hearings during June and July to gather information on the use of consumer credit history to set insurance rates and the effect …
The Alliance of American Insurers has written to U.S. Senate Majority Leader Thomas Daschle (D-SD) and Minority Leader Trent Lott (R-MS) urging prompt consideration of the terrorism insurance bill, given the recent high-level predictions of future attacks. Alliance Senior Vice …
Ohio-based State Auto Financial Corporation estimates that storms would contribute between $20 to $22 million to losses in the second quarter, adding 9 to 10 direct loss ratio points to second quarter results. The company stated that high winds, tornados …
According to the Insurance Services Office (ISO), U.S. insurers will pay out $700 million for damage from storms that wrecked havoc through 17 states at the end of April. The losses are the largest to hit the country since Tropical …
